Fresnillo (LON:FRES) Trading Down 6.4% - What's Next?

Key Points

• Fresnillo plc's share price declined by 6.4%, reaching a low of GBX 2,244 ($30.08) during trading on Tuesday.
• Multiple brokerages have upgraded their price targets for Fresnillo, with Berenberg Bank increasing its target to GBX 2,600 and maintaining a "buy" rating, while the consensus price target is GBX 2,048.
• The company is recognized as the world's largest silver producer and Mexico's largest gold producer, focusing on high-potential projects to ensure long-term growth.

Fresnillo plc (LON:FRES - Get Free Report)'s share price fell 6.4% on Tuesday . The company traded as low as GBX 2,244 ($30.08) and last traded at GBX 2,254 ($30.21). 6,654,419 shares were traded during trading, an increase of 104% from the average session volume of 3,267,321 shares. The stock had previously closed at GBX 2,408 ($32.28).

Analyst Ratings Changes

A number of brokerages have recently weighed in on FRES. Berenberg Bank increased their price target on Fresnillo from GBX 1,700 to GBX 2,600 and gave the stock a "buy" rating in a research report on Tuesday, October 7th. Citigroup increased their price target on Fresnillo from GBX 1,300 to GBX 1,700 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Canaccord Genuity Group raised their target price on Fresnillo from GBX 980 to GBX 2,440 and gave the company a "hold" rating in a research report on Friday. Royal Bank Of Canada lifted their target price on Fresnillo from GBX 1,200 to GBX 1,400 and gave the company a "sector perform" rating in a research note on Monday, August 11th. Finally, JPMorgan Chase & Co. lifted their target price on Fresnillo from GBX 1,850 to GBX 2,100 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of GBX 2,048.

Fresnillo Trading Down 16.4%

The company has a 50-day moving average price of GBX 2,117.10 and a 200 day moving average price of GBX 1,555.48. The company has a quick ratio of 3.28, a current ratio of 5.88 and a debt-to-equity ratio of 23.55. The firm has a market cap of £14.83 billion, a price-to-earnings ratio of 32.56, a PEG ratio of -1.58 and a beta of 0.15.

Fresnillo Company Profile

Fresnillo plc is the world's largest silver producer and Mexico's largest gold producer, listed on the London and Mexican stock exchanges. The Group seeks to create value for stakeholders across precious metal cycles, focusing on high-potential silver and gold projects that can be developed into low cost, world-class mines. Following a decade of consistent and successful progress, the Group is now focused on consolidating its growth and advancing its pipeline in order to deliver further growth in the years ahead.

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